[oldtamiyaphile]

I think it's simply that our cars don't rust, so there's no migration of good used cars into rust belt states (I assume that must be a pretty big thing in the US). Europe is another rust prone area and they have savage depreciation.

Paint work gets pretty beat up in the sun, but it still only applies to 10+ year old cars, where people will accept some cosmetic issues.

I don't think it's market manipulation because used Euros still go for pretty cheap. Some unloved stuff is OK too, like my Prius was $6k US with 60K on it after ten years, they cost $25k new. If anything that car has appreciated since.

But the mainstream market stuff is crazy. OTH I still haven't seen a Leaf much below $15k even though in our climate the battery is a major liability.

But Australia is a pretty closed market.